Meyer Burger’s H1/2020 business results showed the impact of its ongoing strategic transformation a from an equipment manufacturer to an HJT solar cell and module maker, aiming to start production from Q2/2021. (Source: Meyer Burger Technology Ltd)
- Meyer Burger’s H1/2020 net revenues were CHF 51 million and suffered net loss of CHF -38.6 million
- Incoming orders were a total of CHF 32.2 million and orders on hand amounted to CHF 76.1 million
- Raised around CHF 24 million from the sale of microwave and plasma technology business
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The Switzerland headquartered solar PV equipment supplier Meyer Burger Technology Ltd , which is en route to turning into a full-fledged solar cell and module manufacturer using its heterojunction (HJT) technology, shared a mixed bag of financial results. The internal strategic realignment coupled with the COVID-19 pandemic had the company’s net revenues during H1/2020 at CHF 51 million ($56 million), compared to CHF 110.2 million it reported last year (see Meyer Burger: Over 47% Less Net Sales In H1/2019).
EBITDA for Meyer Burger in the first half of 2020 was a negative CHF -27.5 million ($30 million) and it suffered a net loss of CHF -38.6 million ($42 million). Incoming orders of CHF 32.2 million ($35 million) were reported by the company. Going forward, it wants to produce it HJT PV equipment exclusively for self-use (see Meyer Burger Details Captive HJT Business Model). Orders on hand for testing and other equipment in the reporting period amounted to CHF 76.1 million ($83 million).
As for the transformation plan, the company successfully completed a capital increase with gross proceeds of CHF 165 million (see Shareholders Approve CHF 165 Million For Meyer Burger). It also raised around CHF 24 million ($26 million) from the sale of microwave and plasma technology company Muegge GmbH.
It plans to start in-house solar cell and module production in Q2/2021 from fabs that previously belonged to Sovello and SolarWorld in Germany (see Meyer Burger Selects German Locations For PV Production).